LPL Financial LLC increased its stake in shares of New Oriental (NYSE:EDU) by 96.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,185 shares of the company’s stock after acquiring an additional 3,031 shares during the period. LPL Financial LLC’s holdings in New Oriental were worth $581,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group increased its holdings in shares of New Oriental by 10.3% during the 4th quarter. Schroder Investment Management Group now owns 11,153,802 shares of the company’s stock valued at $1,048,458,000 after acquiring an additional 1,043,063 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of New Oriental by 7.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 5,951,664 shares of the company’s stock valued at $559,456,000 after acquiring an additional 402,704 shares during the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd increased its holdings in shares of New Oriental by 3.1% during the 4th quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 1,656,719 shares of the company’s stock valued at $155,732,000 after acquiring an additional 50,161 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of New Oriental by 6.8% during the 4th quarter. Deutsche Bank AG now owns 1,625,170 shares of the company’s stock valued at $152,764,000 after acquiring an additional 103,612 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of New Oriental by 24.5% during the 4th quarter. Lazard Asset Management LLC now owns 1,257,976 shares of the company’s stock valued at $118,249,000 after acquiring an additional 247,734 shares during the last quarter. 79.65% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on EDU. Zacks Investment Research raised New Oriental from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Tuesday, April 10th. ValuEngine lowered New Oriental from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. JPMorgan Chase raised New Oriental from an “underweight” rating to a “neutral” rating and set a $72.00 price objective on the stock in a report on Monday, March 5th. Benchmark increased their price objective on New Oriental from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Deutsche Bank began coverage on New Oriental in a report on Thursday, January 4th. They set a “buy” rating and a $116.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $100.18.
EDU opened at $91.43 on Tuesday. The company has a market capitalization of $14,552.97, a price-to-earnings ratio of 52.55, a price-to-earnings-growth ratio of 1.51 and a beta of 1.32. New Oriental has a 12-month low of $59.29 and a 12-month high of $108.40.
New Oriental (NYSE:EDU) last released its earnings results on Tuesday, January 23rd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $456.93 million. New Oriental had a net margin of 13.92% and a return on equity of 16.19%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. equities research analysts forecast that New Oriental will post 1.93 earnings per share for the current fiscal year.
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About New Oriental
New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.
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